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for the united states coming on and misleading the public. basically we have sent a letter to ambassador rice to explain herself. >> you know, there's a story out today, i didn't know if you saw it, senator, but the story essentially was that the united states government within 24 hours knew it was a pre-planned terrorist attack. your thought on that. because that indicts rice and whomever else was in this cover-up even more. >> that's right. ambassador rice came on the sunday morning programs and said that, in fact, it was a spontaneous reaction of course to the video. and in no way was an expression of hostility toward america. and you have to say killing four american heroes, quite honestly, attacking our consulate, if that's not hostility toward america, i don't know what it is. so, no, i think it's pretty apparent that the administration must have known, had information, and ambassador rice was sent out on the sunday programs to mislead the american public. i find that outrageous, and i think she needs to explain herself and explain herself fast. we should also call for an investigation.
, and the united states. look, we know that china used to be one of the world's great growth engines. it almost single handedly kept the global economy afloat during the global recession. but after playing the roe of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, the slowdown in china seems somewhat self-inflicted. governments hit the brakes and in many ways still seems like it's happening. the hope is the chinese will start cutting rates, adding real octane to the down shift in their economy. how about europe? the european central bank meeting this week and we're expecting to hear some chatter in unison that's going to ereverse the declining economies over there and maybe unite to save the spanish banking system. you can monitor these efforts by watching the largest spanish bank which has been climbing ever since it bottomed at $4 and change. $7 stock finishing up 0.182%. that's positive. what changed or reversed this stock which i consider to be the mos
is long. is the word of the united states respected anymore on the global basis? >>> a new survey shows u.s. global competitiveness has fallen again. what do you blame? vote on that at finance.yahoo.com and we'll talk about that coming up. at usaa, we believe honor is not exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you, usaa bank goes with you. visit us online to learn what makes our bank so different. i bought the car because of its efficiency. i bought the car because i could eliminate gas from my budget. i don't spend money on gasoline. it's been 4,000 miles since my last trip to the gas station. it's pretty great. i get a bunch of kids waving at me... giving me the thumbs up. it's always a gratifying experience. it makes me feel good about my car. i absolutely love my chevy volt. ♪ >>> welcome back. we're
to us by the congress of the united states which represents the american people. >> what does that mean in terms of numbers? >> 2% growth. >> are we at two? kevin was very careful, he went 1.5 to 1.75. >> that's very precise. >> i want basis points. >> decimal points is silly stuff, come on, joe. >> i know. >> there is positive growth, it's just not robust and the key point, it's not enough to create the jobs we need in this country. now, i argue and i argue forcefully, i'll give a speech on this tomorrow night here in new york, the reason we have so much uncertainty is not just uncertainty about europe and uncertainty about the slowdown in china, these are important things. the real uncertainty stems from what are my taxes going to be? what kind of spending pattern also come out of the federal government, how do i deal with this explosion of regulatory morass we have coming out of washington. how do you budget whether you are exxon or a little bitty 20-person company, how does the woman who runs that company or the man who runs that company budget when they have no idea what their cost
day now. let's take the three big bad/good battlegrounds. china, europe, and the united states. look, we know that china used to be one of the world's great growth engines. it almost singlehandedly kept the global economy afloat during the global recession as the chinese communists figured out how to spur domestic spending. but after playing the role of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, much of the slowdown in china seems somewhat self-inflicted. when the pure si realized it overstimulated the economy, governments hit the brakes and in many ways still seems like it's happening. the hope is that the chinese will stop stepping on the brake pedal but start cutting rates, adding real ago taken to the downshift in their economy. how about europe? the european central bank meeting this week and we're expecting to hear some chatter in unison that's going to reverse the declining economies over there and maybe unite to save the spanish ban
able to read that the united states is not as prepared as it should be for this type of cyber attack. >> we're not anywhere where we need to be in terms of a country with respect to preparedness and ultimately in response. the head of cyber command, general keith alexander, i think put it best when asked to evaluate one to ten where the u.s. capability is. he put it at a three. obviously this is not a very good position to be in, especially when you have a number of actors out there. china and russia are very active in terms of computer network exploit. that's espionage in cyberspace. they're increasingly integrating cyber warfare into their military planning and war fighting capabilities. these are all issues we need to take very seriously and we need to enhance our own defensive capabilities as well as invest on the offensive side as we will never firewall our way out of the problem. initiative resides with the attacker. >> is it a money issue? is it an investment of money issue in the infrastructure to combat this kind of crime? or is there something else that the united states sh
of the greatest nation on earth. thank you. god bless you. and god bless these united states. >> the president wrapping up his acceptance speech for the nomination for president of the united states. democratic party. in charlotte, north carolina. can be described, perhaps, as a more subdued speech than the one that he gave at his initial convention four years ago. still touching on topics that are very popular. among his base. you had the tax issue, you had the issues of education. there were references to the automobile bailout. but still, john harwood who's with us, and larry kudlow still with us, and we have more guests coming in in a moment. there were parts that were surprising at times. opening up more land for natural gas drilling. we talk about tax reform. we talk about defense and strong on foreign policy. larry kudlow, did you feel this was a more centrist speech than you expected? >> no, not particularly. i mean, he said he was looking at the principles of bowles/simpson and simpson/bowles that those principles included pro growth tax reform across the board, getting rid of the ded
30 times before it runs out of room to ignite that economy. unlike europe and the united states, the policy makers in china have plenty of room to maneuver, and that fact seems to be endlessly forgotten by the bears who point this out daily. sure, many of their banks are bankrupt. i'm not saying that i don't trust -- hey, they built a ton of bridges and tunnels to nowhere, but never underestimate the problem-solving power of cash on the balance sheet. and china's got cash up the yazoo if not the yangtze for good measure. then there is the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. it can be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the selloff stocks. stocks have had a big run. valuations getting stretched if we have little growth ahead of us. twice in the last month federal express, man, they disapp
here in the united states? we've got similar issues, don't we? we have an e more nor we? we have an e more nomous debt l and the debate on what to cut. >> there's always a question of priorities and where you focus your attention. i think the president has made a major effort to reduce the budget deficit and also to invest in the future of the country, just like a corporation in many senses that has too much debt, that it has to put its debt in line with its ability to raise revenues. it also has to invest in its future. the president, i think, is investing in education, infrastructure, many things that will make the country stronger. that's really the goal. it's to have a sound budget policy but also invest in the country's future. i think that's what the president's trying to do. >> but bob, we haven't had a budget in three years. >> well, a lot of programs that he's proposed have not gotten through the congress. that's a big challenge. he's focused on education. he has a very significant proposal on infrastructure development. these are the kind of things that are needed to make us
of the market. it is in the hands of the eflt cb not the hands of united states. >> we should point out tomorrow we will get some sort of plan or are expecting to from the ecb perhaps some details about a bond buying plan of some kind that we're hearing some things about today. the market may be disappointed in that these reports seem to indicate they'd be targeting three years and less in terms of maturity. that they would not have a yield target perhaps, say we're not going to let it go above 7%, and that it would be sterilized purchases. there are some who believe, hey, you need to actually increase the money supply. really if you're going to get things moving in europe but of course the germans are always concerned about inflation and sterilization which basically means they'll try and take in as much in deposits as they buy in bonds. sort of keeping -- >> somebody tweeted this morning fed bernanke needs to show them how you really print money. and, jim, one other facet of this report is that the head of the bach the german still remains the one lone hold out to this bond buying policy meani
's happening in the united states. >> certainly that's going to bring down the large indices and i just wonder if you think in the fourth quarter there will be a put from central banks or from hedge fund managers that have to play catchup or could we look at the last three months last year? >> central banks are obviously very powerful. you know the old saying, don't fight the fed. you have to be very careful. but as you stretch out the time rise and what you find historically is there is no relationship between liquidity and stock market movement. but i think what's much more important is your original question, if the profit cycle continues to decelerate, i think that's what people want to think about and that's what people want to position their portfolios for. i still think personally that you want to look at more defensive sectors which i think are less prone to have these big earnings disappointments right now. >> rich, can you put together these two knows in the market that you want to be in more dmfticily oriented companies and also this other thought in the market that you want to be i
those good things. so you can start ordering them on friday. it starts deliveries in the united states the following friday on the 21st. we'll have more on this coming up all day here. let's get to brian shactman with his market flash. >> thank you very much, bill. there is news out there outside of apple. i want to take a look at dole foods, the iconic brand now a smaller cap company just under $1 billion. right around 1:00, the nikkei reported. the headline and the subheader, they reported a japanese company was acquire two dole food units for $1.7 billion. the subhead says they hope to reach an agreement this month. the price spiked. the stock is up 10%. back to you. >> thank you so much, brian. if world investors are right, get ready for another intervention to boost the economy. >> mean time, we're going to talk about whether it's needed or not. peter says any fed action is not going to help and it's wrong. others say the economy needs it right now. let's talk about it and get your perspective on this. peter, you saw the employment numbers last friday. you don't think we need more
sheet. and china's got cash up the yazoo if not the yangtze is for good mesh. then the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. kit be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the sell of stocks. valuations getting stretched if we have little growth ahead of us. twice in the last month federal express, man, they disappointed. twice, twice. it's been a real tale of woe. [ crying ] and what has happened? frankly, nothing. stock's pretty much unchanged. tonight we got a big disappointment from norfolk southern, the railroad. while the stock is being hit after hours, you know what? i bet you buyers come in and snap it up tomorrow at what will be considered real bargain prices a few weeks from now. that's because in this tape, in this market, disappointing earnings don't necessarily produce disappointing an
their friends in southern europe and indeed the economy here in the united states. michelle caruso-cabrera will talk about some of the bad pigs in a minute, but first senior economics reporter steve liesman with the story of some vindicated doves. >> because the new game is called "bad piggies." that's where we're coming from. >> and we're only doing this because the producer jason gawertz made us do this. he said could we think of an app that would apply with today's data and i did. it's called vindicated doves. at least initially here, why is that? because essentially the economic data came in weak. let me show you what the economic data showed. the numbers come in you're looking for 5.6% positive -- or negative. you get minus 13.2 off a prior 3.27%. i think the dove says i don't care i had this one right. gdp took .4 off the prior print right there. midwest manufacturing down negative. p and pending home sales much changed from the prior month from positive to negative. take a look at some of the comments here. vindicated doves. anyone facing doubt about the need forred 23ed's r
's take a look at the broader picture. again, the futures here in the united states look a little better after what was a pretty lousy day yesterday. i think it was the worst day for dow in the entire month of december. it was the worst day for the nasdaq in two months and it was the worst day for the s&p in throe months. oil prices continued to push lower and they do once again this morning. they're down another 64 cents to $90 and change. that's been the one bright spot that's been helping out things like the transports, but again, yesterday, every single one of these sectors is down. yesterday we saw a dip below 1.7%. let's call up the dollar board right now. you'll see what happened with these. dollar is a little stronger against the euro, but that's not saying a whole lot. 1.2865. we're also taking a look at the yen. never mind, i lost it there. gold prices are barely budging, 17.66. >> plasser said something yesterday -- >> he said it's not going to help. >> he said he didn't agree with it, it's not going to help and it's going to be hard to get out. >> right. raise the risks. >> j
manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition value is providing support. to the extent companies return cash to shareholders, that offers some support. >> do you see many acquisitions in the market at the moment? >> no, and that's one of the things that's been surprising and disappointing at the same time. it's interesting. there are areas of the market where you've seen capital flow to economic opportunity. for example, buying single family homes to rent them out. which is an arbitrage that was made available by the decline housing prices you haven't seen a comparable level of activity on the corporate side, which is surprising. there are a couple of opportunit
're seeing through the lens. how are things both in the united states and europe. >> and china? >> let's talk about the u.s. in almost every business, there are pockets of real success. let's take, for example, the enormous burst in rental housing. the command for rental housing is incredible. so we're in the home supply business. we do cabinet doors, home depot, supply, we do vanities and things like that. we sell vanity kits as fast as you possibly make to landlocked and multifamily housing who put these things in. we charge $500, they increase the rent $100 a month, the pay back is in months, and the game is on. people are renovating rental places and motels and hotels because they're occupied. three years ago they were taking a room in a motel, tearing it apart, bringing the fixture over and fixing the other room that was leaking. now they're renovating those things. so the home rental idea is moving strongly. you take the marcellus fields, we can't get pipe up there fast enough. we can't get pre-fab buildings up there fast enough. i mean, i'm not talking marcellus, i'm talking north dako
of years here in the united states, no matter who's in charge. others think we're headed well down from here. how do you see it? how are you kind of playing this out? >> i really see that the u.s. has one of the most dynamic economies. a lot of entrepreneurs that can always figure out where else to take their companies. and i think this is -- we have seen that in shell gas, where shell gas went from nowhere to 50, 60, now 80 billion cubic meters of annual production. it's unbelievable. and i think this is something that, you know, we do believe in the u.s. economy in the fact that, you know, u.s. cooperations will always come up with new ways of satisfying that demand. >> andrei, thank you. >> thank you. >>> coming up, the jobs report could become a political football on the campaign trail. new england patriot president jonathan kraft will join us with a unique indicator. first, what happens when you send a conservative free market economist to the dnc with a microphone? peter shift found out and he'll join us live at 6:50 a.m. here's a little preview of that. >> how about a cap on prof
of would happen if the united states goes over the fiscal cliff. they have to engage in sequestration, or massive budget cuts. by the numbers, here's what in the proposal they put out today starting with a 9% cut to most pentagon programs. customs, the faa, and food inspection services. exempt from the cutbacks are social security, medicaid and also many veterans benefits. earlier today, white house spokesman jay carney said that the white house hopes it never has to put this plan into place. take a listen. >> sequester was designed to be bad policy,n n tn to to be one and to be objectionable to both republicans and democrats. >> now, maria, what the white house is saying also, senior officials here in a briefing earlier today they hope now that some of these painful cuts are laid out, this could help marshal support from republicans to do something about the fiscal cliff before it hits at the end of this year. obviously, there's a big election between now and then. >> oh, yeah. thank you so much. worries those budget woes and tax hikes could come to pass are among the reason busines
contributor. david foon is part of the fastest growing jewish newspaper in the united states. gentlemen, how big of a factor is this tension between iran and israel factored into the price of oil? >> there's no question that today's run-up, marimaria, was direct reaction. we got a leak of some of the speech earlier before the market opened that, in fact, prime minister netanyahu was going to state what this red line was going to be all about. now we know. of course, it comes on the heels of ahmadinejad's speech yesterday. this got right back in the forefront of the traders and the markets' mind here. what it represents, of course, for oil is, you know, the mother of all supply risks here. the strait of hormuz comes into play. the whole region comes into play. obviously, it's almost a mild reaction given what we got here today. we're clearly on a path to something, some confully grags. i do say given that netanyahu says they won't get to that final stage until next summer, we have some time. >> david, what did you think of the red line speech? netanyahu has pressed for this before. the u.s. i
by examining 113 indicators from official data sources and polling 15,000 executives. united states continued a four-year slide to the seventh spot. separately, a judge ruling amr can abandon its pilot's union contract. saying the bankrupt parent of american airlines corrected certain issues that caused him to reject the same request in the past. amr is trying to save more than $1 billion a year in labor costs. it can unilaterally impose work terms on its pilot, all is happening as talks between amr and u.s. air continue. >>> in the meantime, a very complicated story. we've been trying to follow the twists and turns. the fbi now says there is no evidence to support claims that hacking group anonymous infiltrated an fbi agent's laptop and lifted data for more than 12 million apple products. however the front page of "the financial times" lays it out and says hackers embarrass apple with this data release. there were over a million different devices, numbers were published online. this is a story that has many odd twists. the hackers said they would not give any interviews about this breach unt
% of the budget. >>> back in the united states, the new york attorney general is investigating whether private equity firms have abused tax strategy in order to cut hundreds of millions from their tax bills. eric schneiderman wants documents that reveal whether they converted certain fgt fees into investments which are taxed at a lower rate than ordinary xhk. economy. schneiderman is looking to see if he's trying to embarrass bain. andrew, right now, i'll send it over to you. >> fascinating story. hope we talk about that in a little bit. corporate headlines this morning. valiant pharmaceuticals is buying metacis for $24 a share. a 39% premium. the deal boosting valiant skin care offering and adds botox to it's portfolio. oracle is launching an appeal on five-year long court case against s.a.p. last month they agreed to pay oracle $306 million over copyright infringement allegations. great to be back. what do you think, a little right here in. >> i've never heard of disport? >> botox? >> you're not who i'm worried about. it's clear by saying you might need it, i know what you're actually saying
a month or so and you see iron ore stocks, you see machinery stocks in the united states and other parts of the world rally off the back of this notion of china stimulus, are all those things built on false expectations? >> we need to look at those charts. and most of those charts have fallen very sharply in the last two months. so what we experience through our trading book on friday with short coverings, we didn't see long-only investors coming in and buying stocks this morning. what i do think is different and you've highlighted that asia has recovered -- talking about a recovery -- the local investors do seem to be more excited by this new story than we've seen for some period of time. particularly noting that cement stocks rallied quite hard today in shanghai. so that is interesting that the local investors are somewhat more enthused about this story than we've seen for months. >> okay. adrian, thank you so much for phoning in. we appreciate it. adrian mowat of jpmorgan. >>> it's interesting this morning that stocks are essentially hanging on to the sharp gains that they made last w
camera again is everybody wants equal opportunity and fairness in the united states. it's just when that breaks down and you don't think it's fair. and you know what else plays into it? is corporate cronyism and the kablt ability to succeed but not to fail. we talk about these things in a perfect world. and it's not perfect. and that's when we get things that need to be rectified and people feel like they're getting screwed, basically. >> no, there's a feeling, and the feeling is enhanced in a downturn, a bubbly economy is when people feel better. i have to add these problems may seem, you know, to be challenges for us. they're big challenges in other places. >> worse than here. >> oh, yeah. india has had momentum stall and a loss of investor confidence from some really dumb stuff. >> you think we can get our mojo back, mike? >> oh, yeah. >> you do? >> yeah, i think so. partly because there's so many parts of the economy on the private sector side that are dynamic and functioning fine. i think people will get motivated and get back in the game. the real question marks frankly on our
Search Results 0 to 23 of about 24